Orchid Island Capital, Inc. (ORC) To Go Ex-Dividend on April 29th

Posted by Chris Copeland on Apr 27th, 2024

Orchid Island Capital, Inc. (NYSE:ORC – Get Free Report) announced a monthly dividend on Wednesday, April 10th, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 16.51%. The ex-dividend date is Monday, April 29th.

Orchid Island Capital has decreased its dividend by an average of 23.1% annually over the last three years. Orchid Island Capital has a payout ratio of 553.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Orchid Island Capital to earn $0.20 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 720.0%.

Orchid Island Capital Stock Performance

Shares of Orchid Island Capital stock opened at $8.72 on Friday. Orchid Island Capital has a one year low of $5.90 and a one year high of $11.27. The stock’s 50-day moving average is $8.58 and its 200 day moving average is $8.07.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ORC. StockNews.com raised Orchid Island Capital to a “sell” rating in a research note on Friday, February 9th. JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, April 18th.

Read Our Latest Report on ORC

About Orchid Island Capital

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Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.